Correlation Analysis Between CAC 40 and DAX

This module allows you to analyze existing cross correlation between CAC 40 and DAX. You can compare the effects of market volatilities on CAC 40 and DAX and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in CAC 40 with a short position of DAX. See also your portfolio center. Please also check ongoing floating volatility patterns of CAC 40 and DAX.
Horizon     30 Days    Login   to change
Symbolsvs

CAC 40  vs.  DAX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CAC 40 is expected to under-perform the DAX. But the index apears to be less risky and, when comparing its historical volatility, CAC 40 is 1.02 times less risky than DAX. The index trades about -0.13 of its potential returns per unit of risk. The DAX is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest  1,206,185  in DAX on September 16, 2018 and sell it today you would lose (28,530)  from holding DAX or give up 2.37% of portfolio value over 30 days.

Pair Corralation between CAC 40 and DAX

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding CAC 40 and DAX in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DAX and CAC 40 is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on CAC 40 are associated (or correlated) with DAX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DAX has no effect on the direction of CAC 40 i.e. CAC 40 and DAX go up and down completely randomly.
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Comparative Volatility

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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